Equifax Inc. (NYSE: EFX) today announced it has named Richard F. "Rick" Smith as Chief Executive Officer and Chairman-elect, succeeding Thomas F. Chapman, who is retiring from the company at the end of 2005. Mr. Smith will assume his Chief Executive Officer responsibilities at Equifax on September 19.
Mr. Smith, 45, joins the company after 22 years with General Electric Co. Most recently, he was Chief Operating Officer of GE Insurance Solutions, GE's global insurance group with $10 billion in revenue and $50 billion in assets in 2004. Mr. Smith led all business units for GE Insurance Solutions, including property and casualty reinsurance, commercial lines insurance, and life and health reinsurance.
"Effective leadership is the lifeblood of Equifax," said Mr. Chapman, who will remain Chairman of the Board through the end of the year. "Rick's broad experience as a leader in technology, risk management, and financial services will serve him well when he takes the helm of this fine company."
Mr. Smith's career with GE began in 1983 as a sales representative in GE Plastics Business Group. He rose rapidly through the ranks at GE, was named an officer of the company in 1999 and held CEO positions in three different GE business units during the course of his tenure there.
"I am very excited to be joining Equifax, an important global information technology company with a rich and successful heritage," Mr. Smith said. "This is a company with a history spanning 106 years, built and led by the performance of many dedicated employees throughout the world. Equifax has consistently demonstrated a proven ability to serve its customers, cultivate its employees and create wealth for shareholders. I look forward to continuing this tradition in the exciting years ahead."
Smith Background and Highlights
- 1983-2005, General Electric Company
- Chief Operating Officer, GE Insurance Solutions, Overland Park, KS
- President and Chief Executive Officer, GE Global Property & Casualty Reinsurance, Overland Park, KS
- President and Chief Executive Officer, GE Capital Fleet Services, Eden Prairie, MN
- President and Chief Executive Officer, GE Capital Modular Space, Malvern, PA
- General Manager, GE Plastics Business Group, Itasca, IL
- Marketing Manager, GE Plastics Business Group, Pittsfield MA
- Sales Representative, GE Plastics Business Group, Cincinnati, OH
- 1981-1983, Sales Representative, Owens Corning, Kansas City, KS
- 1983, BS, Purdue University, West Lafayette, IN